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Australian (ASX) Gold Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies151
  • 7D-9.5%
  • 3M14.2%
  • 1Y95.1%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 9.5%, driven by Northern Star Resources declining 11%. Over the past 12 months, the industry was up 95%. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026AU$175.0bAU$31.1bAU$6.3b24.9x27.9x5.6x
Mon, 02 Feb 2026AU$183.9bAU$26.3bAU$4.6b30.9x40.4x7x
Wed, 31 Dec 2025AU$163.6bAU$26.4bAU$4.6b27.5x35.8x6.2x
Fri, 28 Nov 2025AU$151.5bAU$26.5bAU$4.6b24.8x33.1x5.7x
Sun, 26 Oct 2025AU$138.9bAU$26.4bAU$4.6b24.1x30.3x5.3x
Tue, 23 Sep 2025AU$135.5bAU$26.9bAU$4.8b18.2x28.1x5x
Thu, 21 Aug 2025AU$105.6bAU$22.8bAU$3.4b18.7x30.8x4.6x
Sat, 19 Jul 2025AU$99.0bAU$22.2bAU$3.1b17.2x31.9x4.5x
Mon, 16 Jun 2025AU$111.9bAU$22.3bAU$3.1b21.2x36.2x5x
Wed, 14 May 2025AU$94.2bAU$22.4bAU$3.1b18.3x30.4x4.2x
Fri, 11 Apr 2025AU$89.3bAU$22.3bAU$3.1b17.5x29.2x4x
Sun, 09 Mar 2025AU$78.3bAU$22.1bAU$3.0b18.7x26.4x3.5x
Tue, 04 Feb 2025AU$79.8bAU$18.7bAU$1.8b21.4x43.6x4.3x
Thu, 02 Jan 2025AU$69.5bAU$18.7bAU$1.8b21.6x37.6x3.7x
Sat, 30 Nov 2024AU$73.4bAU$18.6bAU$1.8b20.7x40.7x4x
Mon, 28 Oct 2024AU$79.3bAU$18.4bAU$1.8b23.9x44.1x4.3x
Wed, 25 Sep 2024AU$68.5bAU$18.3bAU$1.8b20.7x38.2x3.7x
Fri, 23 Aug 2024AU$65.6bAU$16.9bAU$1.3b22.1x49.1x3.9x
Sun, 21 Jul 2024AU$61.3bAU$16.0bAU$1.1b23.6x56.9x3.8x
Tue, 18 Jun 2024AU$55.7bAU$16.9bAU$1.2b20.4x47.1x3.3x
Thu, 16 May 2024AU$58.4bAU$17.1bAU$1.2b21.9x49.2x3.4x
Sat, 13 Apr 2024AU$60.6bAU$17.2bAU$1.2b23.4x50.5x3.5x
Mon, 11 Mar 2024AU$54.1bAU$16.6bAU$1.2b18.8x44.6x3.3x
Wed, 07 Feb 2024AU$48.8bAU$15.4bAU$279.2m23x174.7x3.2x
Fri, 05 Jan 2024AU$73.6bAU$22.9bAU$1.3b23.4x54.7x3.2x
Sun, 03 Dec 2023AU$75.0bAU$22.9bAU$1.3b24.3x55.6x3.3x
Tue, 31 Oct 2023AU$70.6bAU$23.0bAU$1.4b22.4x51.9x3.1x
Thu, 28 Sep 2023AU$67.0bAU$23.0bAU$1.3b19.6x53x2.9x
Sat, 26 Aug 2023AU$67.8bAU$22.5bAU$1.1b16.5x62.9x3x
Mon, 24 Jul 2023AU$70.7bAU$22.2bAU$538.2m18.1x131.4x3.2x
Wed, 21 Jun 2023AU$71.0bAU$22.2bAU$554.3m17.2x128.1x3.2x
Fri, 19 May 2023AU$73.1bAU$22.3bAU$582.9m19x125.3x3.3x
Sun, 16 Apr 2023AU$79.7bAU$22.3bAU$575.7m18.6x138.5x3.6x
Tue, 14 Mar 2023AU$63.7bAU$22.5bAU$683.4m19.3x93.2x2.8x
Price to Earnings Ratio

93.2x


Total Market Cap: AU$63.7bTotal Earnings: AU$683.4mTotal Revenue: AU$22.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 60.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 27.9x which is lower than its 3-year average PE of 60.8x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 5.6x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 109% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market-3.68%
Materials-8.35%
Metals and Mining-8.52%
Gold-9.51%
Aluminum-3.43%
Precious Metals and Minerals-5.10%
Steel-7.68%
Diversified Metals and Mining-8.16%
Silver-8.94%
Copper-14.15%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
OBM Ora Banda MiningAU$1.322.3%
+AU$57.7m		32.7%PE11x
WIA WIA GoldAU$0.575.5%
+AU$44.3m		248.5%PB12.1x
AUC AusgoldAU$1.184.9%
+AU$30.1m		135.0%PB3.4x
TTM Titan MineralsAU$1.089.6%
+AU$27.3m		176.9%PB3.6x
TAM Tanami GoldAU$0.1319.0%
+AU$23.5m		346.4%PB3.5x

Latest News

RMS
AU$4.23
Ramelius Resources
7D
-7.8%
1Y
54.9%

RMS: Share Buyback Will Face Execution Risk And Overvaluation Concerns

Analysts have lifted their fair value estimate for Ramelius Resources from A$3.50 to A$3.90, reflecting updated assumptions on revenue growth, profit margins and a higher future P/E multiple following mixed recent research that includes both a downgrade and an upgrade with a A$5.35 price target. Analyst Commentary Street research on Ramelius Resources is mixed, with some analysts taking a more optimistic stance while others highlight risks that they believe are not fully reflected in the share price.
WGX
AU$6.63
Westgold Resources
7D
-14.5%
1Y
166.3%

WGX: High Grade Mine Ramp Up Will Support Higher Margin Returns

Analysts have lifted their price target for Westgold Resources from A$8.44 to A$8.89, citing updated assumptions that combine lower forecast revenue growth with higher expected profit margins and a reduced future P/E multiple. What's in the News Westgold Resources maintained its fiscal 2026 production guidance at 345,000 to 385,000 ounces of gold at an all in sustaining cost of $2,600 to $2,900 per ounce, reaffirming its volume and cost targets for the year (Corporate Guidance).
RRL
AU$8.48
Regis Resources
7D
-10.2%
1Y
165.0%
NST
AU$26.98
Northern Star Resources
7D
-10.9%
1Y
56.7%

NST: Updated Commodity Outlook And 2026 Guidance Will Shape Balanced Future Prospects

Analysts have raised their price target for Northern Star Resources to A$35 from A$30, citing updated commodity price assumptions and a lower projected future P/E multiple as key drivers of the higher fair value estimate, now at about A$30.96. Analyst Commentary Bullish Takeaways Bullish analysts see the higher A$35 price target as aligned with refreshed commodity assumptions, which lift their fair value range for the shares relative to the prior A$30 level.
GGP
AU$12.41
Greatland Resources
7D
-10.1%
1Y
n/a
VAU
AU$5.23
Vault Minerals
7D
-11.1%
1Y
96.2%
HRN
AU$1.40
Horizon Gold
7D
7.7%
1Y
254.4%
OBM
AU$1.32
Ora Banda Mining
7D
2.3%
1Y
32.7%
EVN
AU$14.79
Evolution Mining
7D
-10.8%
1Y
135.9%
GMD
AU$6.73
Genesis Minerals
7D
-9.4%
1Y
111.6%
PC2
AU$0.91
PC Gold
7D
7.1%
1Y
n/a
WIA
AU$0.57
WIA Gold
7D
5.5%
1Y
248.5%
AUC
AU$1.18
Ausgold
7D
4.9%
1Y
135.0%
TOR
AU$0.37
Torque Metals
7D
10.4%
1Y
289.5%
TTM
AU$1.08
Titan Minerals
7D
9.6%
1Y
176.9%
TAM
AU$0.13
Tanami Gold
7D
19.0%
1Y
346.4%